The Manufacturers Life Insurance Company Grows Stock Position in CAVA Group, Inc. (NYSE:CAVA)

The Manufacturers Life Insurance Company raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,007 shares of the company’s stock after purchasing an additional 2,250 shares during the period. The Manufacturers Life Insurance Company’s holdings in CAVA Group were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CAVA. Maverick Capital Ltd. acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $2,056,000. Dark Forest Capital Management LP lifted its holdings in CAVA Group by 34.1% during the 2nd quarter. Dark Forest Capital Management LP now owns 10,751 shares of the company’s stock worth $997,000 after buying an additional 2,735 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of CAVA Group during the 2nd quarter worth about $208,000. Armistice Capital LLC increased its holdings in shares of CAVA Group by 422.5% in the 2nd quarter. Armistice Capital LLC now owns 42,096 shares of the company’s stock valued at $3,904,000 after acquiring an additional 34,040 shares during the last quarter. Finally, Oracle Investment Management Inc. raised its position in shares of CAVA Group by 5.7% during the 2nd quarter. Oracle Investment Management Inc. now owns 18,600 shares of the company’s stock worth $1,725,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

NYSE:CAVA opened at $131.89 on Thursday. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 321.68 and a beta of 3.33. CAVA Group, Inc. has a 1 year low of $29.66 and a 1 year high of $133.95. The stock has a fifty day moving average price of $112.46 and a two-hundred day moving average price of $90.82.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter last year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, analysts predict that CAVA Group, Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CAVA shares. TD Cowen boosted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. TD Securities boosted their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Barclays upped their price target on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird raised their price objective on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $115.64.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock valued at $38,310,084 in the last quarter.

CAVA Group Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.